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Trusts, Express Trust A - Coggle Diagram

- - - - vested/contingent interest (condition)
      - limited/absolute interest (right to trust capital)
      - Bare trust/fixed interest trust
    - - T to decide how to distribute between Bs
    - - intention
        
        intention to place trustee under binding obligations (NOT "will/may/hope")
        
        by words or conduct
        
        if no intention, trust failes and ownership passes to T (as a gift)
      - Subject Matter
        
        must be clearly identified what property is subject to trust, if part of tangible assets, must be segregated
        
        if no trust property, trust fails and ownership returns to S
        
        property owned by S when creating the trust
        
        beneficial entitlement of B must be certain
      - Objects
        
        B suffciently defined
        
        if fixed trust, apply complete list test (with conceptual and evidential certainty, ok if B not physically found)
        
        if discretionary trust, apply given postulant test (clear whether one is part of a group, conceptual certainty only, administratively possible)
        
        if no objects, trust fails and ownership returns to S
      - Beneficiary
        
        must have ascertainable human B to enforce
        
        Rule in Saunders v. Vautier: all Bs with sound mind and capacity can terminate trust
      - Trustee
        
        for inter vivos trust, must have T
        
        any adult with capacity to own property, at least 1 (2 for land)
      - Rules against perpetuity
        
        if contigent interest trust, remoteness of vesting rule (vest within 125 years)
        
        if non-charitable purpose trust, inallienability rule (21 years / life + 21 years)
  - - - appears as a gift to T
      - enforced by B providing evidence for trust terms
      - communicated to T before S dies
      - trust fails if T didn't receive or expressly rejected (if will unchanged, T receives it as a gift)
      - trust valid if T received and remained silence
    - - appears to be a trust to T without disclosing B
      - communicated to T before will execution (will cannot refer to future communication)
      - if trust failes, implies a resulting trust for S (conveyed back to S' estate)
  - - - Every effort rule: trust valid if S made every effort to transfer the property
      - Donatio mortis causa: gift valid if made in contemplation of imminant death
      - Strong v Bird: trust valid if S dies before T constituted but T is will executor, unless S changed mind
      - Proprietary estoppel: gift valid if B relied on assurance to detriment